Stocks of the Hour: Base Resources, Lanthanein Resources, Orion Minerals, Novonix


Energy Fuels has agreed to acquire 100 per cent of the issued shares in Base Resources (ASX:BSE; AIM:BSE) by way of scheme of arrangement, to create a global critical minerals business. The price of A$0.302 per share represents a 173 per cent premium to the 20-day volume-weight average price of Base Resources shares. Shares in Base Resources are trading 85.71 per cent higher at 19.5 cents.

Lanthanein Resources (ASX:LNR) has announced that a new large, high-tenor lithium caesium anomaly has been identified at the Lady Grey Project at Mount Holland in the Forrestania Greenstone Belt. Exploration work programs are targeting drilling mid year. Shares are trading 42.86 per cent higher at 0.5 cents.

Orion Minerals (ASX:ORN; JSE:ORN) has announced a spectacular high-grade copper intercept at the Okiep Copper Project in the Northern Cape, South Africa. This is the highest-grade drill intercept ever reported at Flat Mines and confirms the high-grade copper intercepts returned from drilling completed in 1995 by the previous owners, Goldfields.
Shares are trading 46.15 per cent higher at 1.9 cents.

Novonix (ASX:NVX) has announced that Lithium Energy (ASX:LEL) will acquire the company’s Mount Dromedary Graphite Deposit. Lithium Energy and Novnoix will amend their agreement to provide for a short extension of the due diligence period to 1 May 2024. Shares in Novonix are trading 1.74 per cent higher at 87.5 cents.